Navistar (NAV), which came under pressure and saw a spike in options activity yesterday on news of a negative court ruling, is up 33 cents to $27.48 today after JP Morgan upgraded the stock to Neutral from Underweight. Early options trades on the Lisle, IL trucking company today include an Oct 35 – 45 call spread, apparently bought to open for $1.35, 1000X on NYSE-ARCA.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.